Pound swings wildly after May's Brexit deal defeated

She warned the result would only provide more uncertainty, and "tells us nothing" about what a majority of MPs actually support.

MPs have voted 432 to 202 to vote down Theresa May's deal in the House of Commons at the end of eight days of debate and two years of negotiation following the European Union referendum of June 2016.

The former foreign secretary said he did not "rejoice" in the massive defeat suffered by Theresa May, but demanded that she ditches the Irish border backstop and takes a "fresh approach". And if, as happened before Christmas, the official opposition decline to do so, we will - on this occasion - consider making time tomorrow to debate any motion in the form required from the other opposition parties, should they put one forward.

Under the Fixed Term Parliament Act the motion could potentially lead to a general election.

May's government has until Monday to successfully pass a "Plan B" for a smooth Brexit.

Rising to her feet moments after the drubbing, a clearly shaken Mrs May said the government will now "listen".

Neill Schofield, chairman of Sheffield for Europe, said: "What's prompted everything tonight is the importance of the vote".

"Nothing about how or even if it intends to honour the decision the British people took in a referendum parliament chose to hold". Pro-Brexit lawmakers say the deal will leave Britain bound indefinitely to European Union rules, while pro-EU politicians favor an even closer economic relationship with the bloc.

On Friday, hedge fund manager Crispin Odey, a major donor to the Brexit campaign, said he now expected the project to be abandoned altogether and that he is positioning for the pound to strengthen.

"Tonight we can choose certainty over uncertainty, we can choose unity over division, we can choose to deliver on our promise to the British people, not break that promise and endanger trust in politics for a generation".

Opposition leader Jeremy Corbyn quickly obliged, saying May's government had lost the confidence of Parliament.

If the Government wins there will not be a general election and ministers will carry on in office.

Many of the Conservative lawmakers who voted against her Brexit deal on Tuesday would likely rather have her in power during this slow-motion disaster than anyone else.

The motion will be debated throughout Wednesday, with the vote to be held at 7pm.

After a gruelling five days of parliamentary debate on May's Brexit deal, Tuesday evening will see MPs finally given the chance to decide whether to back the PM's proposal on how the United Kingdom should leave the EU.

Anti-Brexit activists demonstrate with other protesters outside of the Houses of Parliament in central London.

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